File #: Res 0393-2004    Version: * Name: Eliminate the current cap contained in the State Real Property Tax Law on State aid to the City for maintaining a system of improved real property tax administration (A.3723-B/S.3963-B)
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 6/7/2004
Enactment date: Law number:
Title: Resolution calling upon the State Legislature to adopt and the Governor to sign A 3723-B and S 3963-B, which would eliminate the current cap contained in the State Real Property Tax Law on State aid to the City for maintaining a system of improved real property tax administration.
Sponsors: Robert Jackson, Yvette D. Clarke, Leroy G. Comrie, Jr., Helen D. Foster, Vincent J. Gentile, Letitia James, Margarita Lopez, Miguel Martinez, Michael C. Nelson, Annabel Palma, Christine C. Quinn, Diana Reyna, Joel Rivera, Albert Vann, David I. Weprin, Domenic M. Recchia, Jr., Gale A. Brewer, Lewis A. Fidler, James F. Gennaro, Sara M. Gonzalez, Allan W. Jennings, Jr., Larry B. Seabrook, John C. Liu, Hiram Monserrate, Bill Perkins
Council Member Sponsors: 25
Attachments: 1. Hearing Transcript, 2. Hearing Transcript - Stated Meeting 8/12
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
8/12/2004*Robert Jackson City Council Approved, by CouncilPass Action details Meeting details Not available
8/12/2004*Robert Jackson Committee on Finance Hearing Held by Committee  Action details Meeting details Not available
8/12/2004*Robert Jackson Committee on Finance Approved by CommitteePass Action details Meeting details Not available
6/7/2004*Robert Jackson City Council Referred to Comm by Council  Action details Meeting details Not available
6/7/2004*Robert Jackson City Council Introduced by Council  Action details Meeting details Not available

Res. No. 393

 

Resolution calling upon the State Legislature to adopt and the Governor to sign A 3723-B and S 3963-B, which would eliminate the current cap contained in the State Real Property Tax Law on State aid to the City for maintaining a system of improved real property tax administration.

 

By Council Members Jackson, Clarke, Comrie, Foster, Gentile, James, Lopez, Martinez, Nelson, Palma, Quinn, Reyna, Rivera, Vann and Weprin

 

                      Whereas, Section 1573 of the State Real Property Tax Law (“RPTL”) contains provisions for State assistance to assessing units if the assessing units maintain certain standards of quality assessment administration; and

Whereas, Under the formula for aid set forth in the RPTL, assessing units are entitled to annual State reassessment aid in the amount of five dollars per parcel for qualifying assessment rolls filed up to a specified threshold and in the amount of three dollars per parcel for qualifying assessment rolls filed subsequent to such threshold until 2009; and

Whereas, RPTL §1573 contains a provision capping such aid to any assessing unit for a given year at $500,000; and

Whereas, Such a cap unfairly and uniquely limits aid to New York City; the memo of support for A 3723-B indicates that “[e]very other locality receives its full share except the City of New York;”

Whereas, Without the cap, New York City would be eligible to receive roughly $4.2 million in additional State aid for each year that the RPTL provides for a $5 per parcel payment for assessments on its approximately 952,751 relevant land parcels and roughly $2.4 million in additional State aid for each year that the RPTL provides for a $3 per parcel payment for assessments; and

Whereas, New York City is in demonstrated need of this additional aid to enhance its assessment system, which has recently weathered indictment of 18 current and former City assessors for corruption and would benefit significantly from additional resources to promote accountability and professionalism, now therefore be it

 Resolved, That the Council of the City of New York calls upon the State Legislature to adopt and the Governor to sign A 3723-B and S 3963-B, which would eliminate the current cap contained in the State Real Property Tax Law on State aid to the City for maintaining a system of improved real property tax administration.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LS #1037

6.02.04